Looking at the lower price rejection, I would be looking for a move to the value area high at 0.7686. There is no reason for price to head lower. With my opinion of a mid-long term weak USD and metal prices picking up, this provides an upside bias on AUDUSD.
Technically your idea looks good and I would normally agree but I have a feeling that we are in for USD strength across the board until the rates decision. Thats also why Im not shorting USDCAD right now. I could be wrong..normally am.
kam.dhadwar
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agreed, i would wait for a close above the 75100 area and then scale out at 75600 and again at the 76400
straps
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News on this? Thanks.
DavidBelleFX
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I got stopped. SP falling off Meant US demand. Will stick with my GBPUSD long and SP short for now.